PTC Sees Q4 Revenue At Or Above High End Of Prior Range - Quick Facts

(RTTNews) - PTC Inc (PTC) said Wednesday that preliminary revenue for the fourth quarter ended is expected to be at or above the high end of the company's guidance of $340 million to $355 million, before considering the acquisition of Axeda in August.

Analysts polled by Thomson Reuters expect revenue of $349 million for the quarter.

The company expects Axeda to contribute $4 million to $5 million in revenue for the fourth quarter.

On September 25, in support of integrating businesses acquired in the past year and the continued evolution of its business model, PTC committed to a plan to restructure its workforce.

The restructuring is expected to result in a charge of about $34 million, all of which is attributable to termination benefits. The charge will be recorded primarily in PTC's fourth quarter and will primarily be paid in PTC's 2015 fiscal year. PTC expects that the annualized effect of the expense reductions will be about $31 million.

PTC develops software products and solutions in the areas of computer-aided design (CAD), product lifecycle management (PLM), application lifecycle management (ALM), among others.